Galaxy Digital Posts $85 Million Loss in Q2

Galaxy Digital faced a difficult second quarter as the firm reported a net loss of $85 million. The disappointing figures come as a direct result of the recent downturn across digital asset markets, which put significant pressure on the firm's balance sheet.

Revenue for the quarter hit $8.7 billion, but the number still fell short of Wall Street expectations. Investors and analysts were looking for stronger performance during a period where market volatility has been the main story for crypto firms.

This loss highlights the ongoing sensitivity of major crypto institutions to price swings in the wider market. Traders will be watching to see how the firm adjusts its strategy as the market looks for a clearer direction in the coming months.